Assurant, Inc. Declares Quarterly Dividend of $0.53 (NYSE:AIZ)
Assurant, Inc. (NYSE:AIZ) announced a quarterly dividend on Monday, August 7th, RTT News reports. Stockholders of record on Monday, August 28th will be paid a dividend of 0.53 per share by the financial services provider on Tuesday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.02%.
Assurant has raised its dividend payment by an average of 28.4% annually over the last three years and has raised its dividend every year for the last 13 years. Assurant has a dividend payout ratio of 32.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Assurant to earn $7.17 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 29.6%.
Assurant (NYSE AIZ) remained flat at $104.94 during midday trading on Monday. The stock had a trading volume of 23,609 shares. The stock has a market cap of $5.80 billion, a PE ratio of 13.79 and a beta of 0.77. The firm has a 50 day moving average of $104.39 and a 200 day moving average of $99.46. Assurant has a one year low of $78.50 and a one year high of $106.99.
Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $1.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.05. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.57 billion. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The firm’s revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 EPS. Equities analysts expect that Assurant will post $6.55 earnings per share for the current fiscal year.
Separately, BidaskClub upgraded shares of Assurant from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $98.33.
In other Assurant news, EVP Christopher J. Pagano sold 2,000 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $97.75, for a total transaction of $195,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Christopher J. Pagano sold 7,000 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $102.94, for a total transaction of $720,580.00. Following the transaction, the executive vice president now owns 55,978 shares in the company, valued at $5,762,375.32. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.
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Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
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